Monday, June 29, 2009

It has that "FEEL"to it

The market that is. Feels like it should be going down when its going up.

Part of that is considered the "WALL of WORRY" that Bull Market's climb.

For the masses, this looks to me more like the nice wide approach to the

"CLIFF's of EUPHORIA", wherefrom the masses make their leap into the Abyss.

My Major selection after this week's foolishness is CPX, one we have traded before.

The buzz on the street previous was they were being stalked by BHI as a buy-out.

True or not, despite all the craziness of the Russell Re-Balance [ thank you lord for not including them IN ], it seems the stock price has consolidated and the
accumulation levels have continued upwards.

With that, other factors and price / time / momentum factors dialed in, I like the stock or its options [ Oct 7.5's for cheapies ], under $7.00 TODAY, for a short run, typically what I'd consider a scalp on a Pop-Up Move. My stop level here would be a close below $5.45, rather than just a TOUCH. Typically a Pop-Up Move can take up to 15 market sessions to manifest, depending on what is driving or not driving the stock. I am not sure we have that long before a general market decline, so this selection will be evaluated upon a daily basis as to its progress or lack thereof.

CPX, stock, below $7.00, OCT '09 CALLS, $7.5 Strike, last Bid and Ask $ .45 - .65
MENTAL Stop = CLOSE below $5.45.

DG

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